By E. Janene Geiss
Philadelphia, May 28 - UBS AG priced $7.35 million of 9.3% yield optimization notes with contingent protection due May 29, 2009 linked to the common stock of Verizon Communications Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
Each note has a principal amount of $37.08, equal to the initial price of Verizon stock.
If Verizon stock falls below the trigger price - 75% of the initial price - during the life of the notes, the payout at maturity will be one Verizon share per note. If the stock remains at or above the trigger price, the payout will be par.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG
|
| Issue: | Yield optimization notes with contingent protection
|
| Underlying stock: | Verizon Communications Inc. (NYSE: VZ)
|
| Amount: | $7,347,662
|
| Maturity: | May 29, 2009
|
| Coupon: | 9.3%, payable quarterly
|
| Price: | Par of $37.08
|
| Payout at maturity: | If Verizon stock falls below 75% of initial price during life of notes, one Verizon share per note; otherwise, par
|
| Initial price: | $37.08
|
| Trigger price: | $27.81, 75% of initial price
|
| Pricing date: | May 23
|
| Settlement date: | May 30
|
| Underwriters: | UBS Financial Services Inc.; UBS Investment Bank
|
| Fees: | 2%
|
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